New Economy Workforce Grant Program
The New Economy Workforce Grant Program supports Virginians through noncredit training in high-demand fields, helping them earn workforce credentials and meet the state's need for skilled workers.
Funder: State Council of Higher Education for Virginia
Due Dates: No deadline listed
Funding Amounts: Up to $4,000 per student for training and credential completion, paid to the institution
Summary: Supports noncredit workforce training that leads to credentials in Virginia high-demand fields.
Key Information: Institutional payments depend on students completing training and earning the credential.
Description
Established by the Virginia General Assembly in 2016 and administered by the State Council of Higher Education for Virginia (SCHEV), the New Economy Workforce Grant Program funds noncredit training that prepares Virginians for credentials in high-demand fields. Its pay-for-performance structure ties payments to two outcomes: completion of training and attainment of the workforce credential.
Participating institutions select training programs and credentials that align with high-demand fields identified by the Virginia Board for Workforce Development and with regional labor-market needs. The program aims to increase the supply of credentialed workers for occupations where demand exceeds supply while making training more affordable to Virginia students.
